Netherlands-Vietnam Chamber of Commerce (NVCC)

VEIL: Covid confirms Vietnam as manufacturing power

VEIL: Covid confirms Vietnam as manufacturing power

Source: Investment trust Insider, 14 Oct 2020

Vietnam has continued to strengthen its presence in Asian manufacturing this year, suggesting increasing interest in ‘reshoring’ presents little threat to the country’s frenetic growth, Dragon Capital’s Dominic Scriven has said.

The coronavirus pandemic has focused executives on supply chain security, a theme that had already been nurtured by the ongoing US-China trade war, opening up the possibility of more manufacturing moving back to western economies.

The founder of Dragon Capital, which runs £983m investment trust Vietnam Enterprise Investments (VEIL), was clear that Vietnam’s prospects would be damaged if globalisation reversed. The trust enjoyed its 25-year anniversary last month, making the managers one of the oldest and largest foreign investors in the country, having set up shop after former US President Bill Clinton lifted US trade embargo in 1994.  

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